Hong Kong will continue to promote the regulatory system for fiat stablecoin issuers and relax the asset assessment requirements for inbound investors

According to BlockBeats news, on February 17th, according to "Hui Kong News", Xu Zhengyu, the Secretary for Financial Services and the Treasury of Hong Kong, China, stated in his speech at the annual meeting of the Asian Securities and Financial Markets Association that the government had already published a stablecoin bill in the constitution last year to introduce a regulatory system for stablecoin issuers in Hong Kong. Hong Kong will continue to be an ideal gateway connecting the mainland capital market with other regions of the world, and provide international enterprises and investors with the preferred platform for investment opportunities in the Guangdong Hong Kong Macao Greater Bay Area, the mainland, as well as the Middle East and ASEAN. The government launched the New Capital Investment Scheme (CIES) in March last year, which will further relax asset assessment requirements and accept investments made through qualified private companies. We will also optimize the tax system for funds and single family offices, and introduce a new company relocation system to attract more international companies to set up offices or relocate in Hong Kong.